August 2023 » thefivestar.com
49
August 2023
S P O N S O R E D C O N T E N T
together. With all core, default, and con-
sumer platforms synced by real-time data,
anyone—consumer or servicing employee—
touching any Sagent platform is seeing the
latest customer, investor, and compliance
information. Which, of course, leads to better
customer experience and more efficient op-
erations. And in a bigger compliance sense,
it also means avoiding enforcement risks and
penalties.
How Regs & Servicing Fintech Will
Fuel Industry-Changing Results in
2024
N
ow that we've defined the role of
mortgage servicing fintech in a 2023-24
context, let's bring it home by recapping
how the March 2020 CARES Act led to rapid
servicing innovation.
In my last piece for MortgagePoint maga-
zine, I noted how unemployment spiked
from 3.5% to 14.8% early in the pandemic,
and CARES was a crucial bright spot that
ultimately helped 7.8 million people keep
their homes.
When CARES forbearances and other
hardship relief became effective, Sagent-
powered servicers were ready on day one
because they simply configured (rather than
coded) for each compliance nuance CARES
homeowner hardship relief enabled. This
meant being able to offer forbearances, pay-
ment deferrals/partial claims, and extended-
term modifications to struggling homeown-
ers immediately—and not missing a beat on
compliance.
The same goes for being ready when
FHFA recommitted to CARES payment
deferrals this year. And if next year's election
results in more policy changes, servicers will
be ready for that too. The same goes for ser-
vicer readiness for the next bank crisis, reces-
sion, or other sudden exogenous event. It's all
powered by real-time platforms for real-time
markets and regulations. And it all builds off
fintech progress over the last 13 years.
So, to end where I began: with cool new
innovations. Please connect with me and
Sagent on LinkedIn to see what we're bring-
ing to market in 2H23 and 2024. Spoiler alert:
it's industry-changing results on Customer
Experience, Cost Control, and Compliance.
Please reach out and let's keep this thread
going.
